Shares of CG Oncology, Inc. (NASDAQ:CGON – Get Free Report) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $87.7778.
Several brokerages recently issued reports on CGON. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Wall Street Zen cut shares of CG Oncology from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Royal Bank Of Canada dropped their target price on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Piper Sandler upped their price objective on CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Truist Financial lifted their target price on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th.
Check Out Our Latest Stock Report on CG Oncology
CG Oncology Stock Performance
CG Oncology (NASDAQ:CGON – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. Equities analysts predict that CG Oncology will post -3.31 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Leonard Post sold 1,000 shares of CG Oncology stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total value of $72,980.00. Following the completion of the sale, the director owned 1,000 shares of the company’s stock, valued at approximately $72,980. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Mulay sold 24,165 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the sale, the director directly owned 24,165 shares in the company, valued at approximately $1,816,241.40. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 31,165 shares of company stock valued at $2,313,761. Company insiders own 4.80% of the company’s stock.
Institutional Investors Weigh In On CG Oncology
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in CG Oncology during the 2nd quarter valued at about $444,509,000. Seven Fleet Capital Management LP grew its position in shares of CG Oncology by 24.5% during the 2nd quarter. Seven Fleet Capital Management LP now owns 1,886,236 shares of the company’s stock valued at $134,017,000 after purchasing an additional 371,085 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of CG Oncology by 21.8% in the first quarter. Bank of America Corp DE now owns 1,449,364 shares of the company’s stock worth $98,093,000 after purchasing an additional 259,311 shares during the period. EcoR1 Capital LLC boosted its stake in CG Oncology by 3.5% during the first quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company’s stock valued at $74,583,000 after buying an additional 37,200 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in CG Oncology during the second quarter valued at $54,705,000. Institutional investors own 26.56% of the company’s stock.
CG Oncology Company Profile
CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company’s research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).
Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).
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